Wednesday, 2024 February 21

Oldschool shipper Schulte Group launches VC arm to invest in maritime startups in Asia and Europe

Hamburg-based ship management company Schulte Group is launching a venture capital unit called Innoport to invest in founders who innovate processes in the maritime industry with technology.

Based in Hamburg, Limassol, and Singapore, the Innoport team will leverage  Schulte Group’s deep domain knowledge and connections to provide support for maritime and logistics startups. While the investment focus is mainly in Europe and Asia, there can also be collaborations with startups from other regions.

This could bode well for startups in Singapore, the country that was ranked the top global shipping center for five consecutive years by the Baltic Exchange and Xinhua (China’s news agency).

VersaFleet and Haulio are some examples of local startups in this space.

The Maritime and Port Authority of Singapore (MPA) has been encouraging more partnerships between Singapore’s maritime industry and the technology startups.

Just last year, Singapore kickstarted the Port Innovation Ecosystem Reimagined @Block71 acceleration program to stimulate innovation within Singapore’s maritime industry.

Editor: Nadine Freischlad


Related Read